Method and apparatus to execute bets

ABSTRACT

A method and apparatus are provided to execute bets in an agile manner. The method and apparatus incorporate new functions that make it easier for a bettor to enter, modify, generate derived bets and register wagers. The entering and registration of pari-mutuel wagers is made easier by the apparatus and method.

This application is a Continuation-In-Part Application filed under 35 U.S.C. § 120 of co-pending U.S. application Ser. No. 10/236,814 filed on Sep. 6, 2002. This application also claims priority to Mexican Patent Application MX-PA/a/2001/009037, having a priority date of Sept. 7, 2001. Each of the above applications are hereby incorporated by reference.

REFERENCE TO APPENDIX

This application includes a computer program listing appendix, which was submitted on compact disc (CD) in the U.S. application Ser. No. 10/236,814. The content of the CD is hereby incorporated by reference in its entirety and accordingly forms a part of this specification. The CD contains the following files: File name File Size Creation date for CD NORMAL.txt 53 kb Nov. 5, 2002 SHAFFLE.txt 58 kb Nov. 5, 2002 TRISUP.txt 55 kb Nov. 5, 2002

BACKGROUND OF THE INVENTION

1. Field of the Invention

This application relates to a method and apparatus for the racing industries, and more particularly for the horse race industry.

2. Description of the Related Art

The horse race industry is not only formed by the race tracks; behind it there is a lot of human material among which the following can be highlighted: associations of horse owners, associations of trainers, associations of breeders, associations of jockeys, gallopers, stablemen, horseshoers, vet doctors, food and medicine suppliers, equine transporters, administrators, tellers, waiters, cleaning and general maintenance personnel but, above all, the essence that supports the industry, the bettors. In view of the above, this industry is an important source of employment and income.

As it is known, wagers are the main source of funds to furnish the industry. Presently, thanks to communications via satellite, it is possible to place bets in different horse race tracks with simultaneous races, even when the race tracks are distant from one another, without being important the bettor's location.

The wager in the horse races is called pari-mutuel bet, which means, “to bet among us”. The bettors that wager in a pari-mutuel system are not betting against the racetrack but against the rest of the bettors; this means that the money of the loser bettors is distributed among the winners bettors.

When a wager is placed in the racetrack, that money goes to a “Pool” or betting fund; every type of wager has its own betting fund. The racetrack receives an amount of money as “takeout” or retention for handling the bets, which is assigned for the payment of prizes to the horsemen and breeders and for the expenses of the racetrack. The rest of the money of every type of bet is returned to the bettors in form of payoffs to the winners.

There are two main types of bets:

1. Straight Bets are those involving one competitor (horse, greyhound, car, etc.)

WIN: The bettor wins if the selected competitor finishes in the first position.

PLACE: The bettor wins if the selected competitor finishes in first or second position. However, even when the competitor wins, the bettor cashes the payment of Second position.

SHOW: The bettor wins if the selected competitor finishes in first, second or third position, but cashes payment of Third.

2. Exotic Wagers are those involving two or more competitor in one or more races.

EXACT: The bettor wins if it selects the competitor that finish in first and second place, in exact order. For example:

Exact 3-5

Competitor number 3 must win and competitor number 5 must finish second.

QUINELLA: To win, the bettor must select the competitors that finish in first and second places but, unlike in the Exact wager, the order in which they finish is not important.

TRIFECTA: The bettor must select the three first places in the official order of finish.

SUPERFECTA: The bettor must select the first four places in the official order of finish.

TRIPLE: The bettor must predict the winners of three consecutive races; it must place its bet before the first of the three races begins.

PICK SIX: The bettor must predict the winners of six consecutive races marked for this wager. If there are no winners in this bet, part of the pool will be accumulated on the next day of races, making it possible for huge jackpots to build.

Additionally, there are combinations of multiple wagers, as follows:

BOX: It allows the bettor to select all possible combinations with the competitors picked for a bet. Every combination costs as one bet. For example:

Trifecta Box 1, 3, 5

The bettor will win if competitors numbers 1, 3 and 5 finish within the first three positions, in any order.

A Trifecta box bet is equivalent to the following (1×2×3=6) 6 bets

1.—1, 3, 5

2.—1, 5, 3

3.—3, 1, 5

4.—3, 5, 1

5.—5, 1, 3

6.—5, 3, 1

KEY: It allows selecting a competitor to win with the other possible combinations. Example:

Key 1 with 3,5

This means a bet to first on competitor number 1, and competitors 3 or 5 will finish in the second or third positions.

Such wager is equivalent to the following two bets.

1.—1, 3, 5

2.—1, 5, 3

A Key bet means a lower number of simple bets than a Box bet. Therefore, the cost of the Key bet is lower than the Box bet.

According to the current method of wagering, the bettor must perform the following steps for register a bet:

A) Go to a ticket window and give the mutuel clerk the following information:

1. The name of the race tract;

2. The race number to make a bet on;

3. The amount of the wager;

4. The type of bet to make;

5. The competitor(s) (number of competitor) shown in the program. For example:

“Santa Anita, Fifth race, $20 Dollars to win on number 6”

The prior at acknowledges basically four forms for registering bets:

1. By means of machines operated by mutuel clerks (tellers)

2. By means of machines operated by the bettors themselves

3. Through prepaid cards, and

Recently, through the internet.

During the last years, the industry has made many attempts to increase the amount of the wagers through different forms and ideas, without positive results so far. Along the last 12 years, the inventor has been analyzing the different betting systems based in the different formats used in the racetracks in Mexico and in the United States.

Some attempts have been made to increase the amount of the bets. The U.S. Pat. No. 4,962,950 issued to Champion, describes a ticket which includes a random bet. With such ticket it is meant to show people going to the racetracks to have a better knowledge of the wagers. The problem, however, has not yet been resolved favorably.

Among the main problems, the following can be highlighted:

It has been noted that 60% of the bets are placed between two and three minutes before the race begins. This means obviously that the time required for the bettor to register its wager is essential.

The current registration of bets works with systems based on digital screens (touch screen) or optical scanners for cards, both operated by the bettors themselves and by machines operated by tellers. The systems used for the collection of wagers present serious problems of logical operation. Due to this fact, the time for the collection of wagers is excessive.

In the case of machines operated by the same bettor, in the current system, the registration of a wager “without making mistakes” can be done in around 20 seconds. However, a mistake in the data entered means having to go back and enter again data which had already been previously registered. This causes a loss of time (around 20 or 30 seconds more), to lose the sequence of the initial bet and, consequently, the bettor's mood is affected, which results into a reduction in the amount of the wager that the bettor originally wished to place, as well as into affecting (consuming) the time of other people standing in the line for registering their wager.

For machines operated by mutual clerks or tellers, the situation becomes even more complicated, due to external issues to the bettor, such as the mood of the mutual clerk (teller), who is not exempt of mishearing, or because the same bettor gives the teller mistaken information. Also failures due to mishearing result in a consumption of time for registering a wager which results in reduction in the wager amount.

It also happens that when the bettor is registering its wagers, it becomes aware that its financial estimation was wrong and, therefore, it has insufficient money, reason why it has to modify its wager. That means a consumption of valuable time and results in a reduction in the wager amount. Mistakes due to tellers, also results in consumption of registration time and reduction in the wager amount.

It is also common that when the bettor is registering its wager, the mutual clerk informs it that has been recently informed that a particular competitor has been withdrawn (scratched). The bettor has to make important changes in its wager. As indicated below, the wager registration is performed within the three of four minutes prior to the race, then the bettor can not have time enough to construct (handicap) a new wager. Therefore, the bettor is forced to quickly enter a bet which is not the preferred bet. As result, the wager is decreased or even canceled.

After the handicapping process, a bettor has obtained a combination of competitors that can be winner. The bettor is desirous to make a big wage; however, it is not willing to make only one bet. A bettor usually prefers to make some bets and thus reduce the risk of lost. Until today, every bet has to be constructed and entered individually.

Summarizing, the wagers registration system according to the prior art allows to place bets in an easy way only when the combinations that make up the bet are simple. On the contrary, if the wager presents a certain degree of sophistication, the system itself makes it complicated to register the bet, causing uncertainty and fear to the bettor, which is reflected directly in the amount of wager money entering the racetracks or different betting centers. This means, uncertainty affects the mood of the bettor; the bettor prefers to decrease its wager in such a the manner which results easier to register. This is one of the causes by which it is not possible to increase the wagers.

The delays provoked by the tellers and bettors are due to the lack of a betting registration system which allows the reduction of wager registration times and, consequently, to increase the income in a way that will benefit the whole bets industry, in particular, the horse race industry.

Marshall et al. U.S. Pat. Appln. No. 2001/0031656 discloses an interactive wagering system and method that enable wagers to be placed via a television set up box, via a computer or via telephone. However, Marshall includes the drawbacks of the prior art since Marshall fails to teach or suggest that derivative bets are created that modify an initial combination of groups of competitors to create derivative combinations of the original bet. Thus Marshall remotely provides a bettor the very well known tools for placing bets, but fails in providing tools for creating derivative bets to encourage a bettor to increase the amount of the wage. In addition, Marshall fails in provide tools for placing bets in a quickly manner.

Despite of the intents of provide off-track means for wagering, the total wagers in the racing industry are deceasing every year.

SUMMARY OF THE INVENTION

It is therefore a first objective of the present invention to overcome the problems of the prior art and to increase the amount of the wagers in the horse and greyhound races or in any other event where it can be applied, for example, in car races.

A second objective is to provide a method and apparatus to reduce the time required to place a bet. The possibility of placing the bet in a brief period of time gives the bettor the certainty that the wager it wants is the one to be registered. Such certainty will lead the bettor to decide the amount of the wager that it considers more appropriate. It means that the bettor will increase or lower the amount of its wagers in the most appropriate manner. Said certainty lead to the bettor not to decrease the amount of the wager due to inconveniences, moreover, said certainty will lead to the bettor to increase their wagers.

An additional objective is to provide a portable apparatus which will make it easier for the bettor to perform and place a wager.

Another objective is to provide a system which will facilitate the placement of wagers in a racetrack or in a betting center.

Another objective consists in making bettors familiar with the methods to place a wager.

Another objective of the present invention is to provide a method to perform and place bets.

Still another object of the invention is to provide a bettor with a tool for generating derived bet from a handicapped bet in order that the bettor can make more than one bet for a handicapped selection of competitors.

Other object of the invention is to provide a bettor with a tool in order that a bettor can make a derivative bet by scratching a competitor for an original bet.

An additional objective of the invention is to provide a bettor with a tool in order that a bettor can make a derivative bet by transforming a superfecta bet into a trifecta bet and vice versa.

Another object of the invention is to provide a bettor with a tool in order that a bettor can make derivative bets by switching the groups of competitors selected to finish in fist, second, third or four place.

Still another object of the invention is to provide a bettor with a tool in order that a bettor can make derivative bets by mixing the groups of competitors selected to finish in fist, second, third or four place.

Other object of the invention is to provide a bettor with a tool in order that the bettor can construct bets whilst it is informed of the cost of the bet.

Still an object of the invention is to provide a bettor with a tool in order that the bettor can storage and recall the original bet and the derived bets for printing or entering the bet.

The task of the method and apparatus of the present invention is to solve each and everyone of the problems that the horse race industry and/or similar regarding the collection in the registration of bets. this is reach by proving a method an apparatus comprising: a plurality of buttons for selecting a type of bet, wherein each button represents a different type of bet; a plurality of buttons for selecting competitors; a plurality of buttons for selecting an initial combination of groups of competitors to finish in particular places for creating an original bet; and a plurality of buttons for creating derivative bets, said buttons for creating derivative bets modifying the initial combination of groups of competitors to create derivative combinations of said original bet.

Even though the invention is mainly referred to horse races, it shall be understood that it also is applicable for greyhound races and, in general, for any type of pari-mutuel bet.

BRIEF DESCRIPTION OF THE DRAWINGS

The present invention will become more fully understood from the detailed description given herein below and the accompanying drawings which are given by way of illustration only, and thus, are not limits of the present invention, and wherein:

FIG. 1 is a portable apparatus of the present invention;

FIGS. 2 a -2 g are illustrations of screen devices that may be presented showing a screen of the apparatus according to the present invention.

DETAILED DESCRIPTION OF A PREFERRED EMBODIMENT

An electronic apparatus is described, portable preferably, by means of which it is possible to obtain the calculation of the different operations directly related to the horse and greyhound races in their various betting types or forms. The object of such apparatus is to help obtain the quantitative of the betting group or groups through the inclusion or deletion of competitors.

With the use of the portable electronic apparatus according to the present invention, a bettor can try the different possibilities before obtaining the best suitable wager for it, with the result obtained (selected bet) the bettor will go to the mutual clerk (teller) or to any means to enter its bet, with the certainty that the bet its wants to place is the convenient bet. Once the bettor has the full certainty about the wager its wants to place, its investment in the wager will be the highest. Upon placing its maximum wager, the amount of the bets will be consequently increased.

In another embodiment of the invention, the portable electronic apparatus comprise means for the interaction with the machines to register bets located in the racetracks and multiple establishments who provide such service, in order to allow the bettor to officially register its wager from its portable apparatus.

The bets in their context will be structured in the following manner; this is, they will be shown in the screen in this manner: 1^(st) Group/ 2^(nd) Group/ 3^(rd) Group/ 4^(th) Group/ (Competitors to (Competitors to (Competitors to (Competitors to first place) second place) third place) fourth place)

The apparatus according to the present invention comprises four fundamental parts, which are:

1.—The keyboard: it has a matrix shape, since it eases the codification of lines and columns, allowing up to 55 buttons which can be increased if the number of competitors is increased. This capacity permits to have buttons to select each competitor from 1 to 30 or more participants, including the buttons of the several extra functions.

2.—Electronic circuit (processor). It is in charge of performing the mathematical operations using the data entered, to show later the results in the third element.

The program that performs the functions mentioned above is loaded in the processor; any type of processor can be used since the operations are very simple. However, the complexity lies in the different options of the keyboard, contemplated in the program.

3.—Liquid Crystal Display (LCD): This screen serves as output peripheral. Here are shown the data entered, as well as the results. Such display will be preferably of graphic type, since it makes easier the representation of different sizes of fonts and images, which will allow the presentation of all the necessary information. If the screen has pre-defined characters, it would only need to comply with the requisites to show the necessary information. It is considered that the crystal liquid display is the best option for the apparatus because it handles binary information and it is easily connected to the processor.

4.—Communication Peripheral (port): By communication peripheral we refer to the system with which it can be established the communication between the apparatus object of the present invention and the machines to register wagers.

This element is very diverse, since it will depend of the technology present at each moment; just as a mention, some types of elements can be:

a) Infrared signal;

b) Tickets printer, with bar codes that can be read by the registers; and/or

c) Serial port, parallel, usb, or any type of port currently known in the computer media or to be developed in the future.

The keyboard's object is to allow the bettor to enter each and every data required to make the calculation of the wager.

The knowledge of the variables involved in a bet will help the bettor to develop its personal method of understanding a race (handicapping), which results in a handicap or advantage of the bettor to place wagers. This handicap will mean a greater possibility to obtain positive results when placing a bet.

The description of the figures is presented ahead. Groups of buttons are described, with the purpose of achieving a better description of each one of them:

The method and apparatus for the execution of bets according to the present invention comprises:

a) Bet selecting means

b) Competitors selecting means

c) Bet execution means

d) Place combining means

e) Secondary option means

a) Bet Selecting Means

The bet selecting means comprises buttons for selecting the type of wager to be placed.

The following table describes the different buttons for selection of wagers: GROUP I BUTTONS FOR TYPES OF BETS NAME FUNCTION WIN To first place. PLACE To second place. SHOW To third place. WP To first and/or second place at the same time. WPS To first and/or second and/or third at the same time. DBL To winners of two consecutive races. QNL To first and second place, in either order of finish. PCK3 To winners of three consecutive races. PCK6 To winners of six consecutive races. PCK ALL To winners of n consecutive races (n is variable). EXA To first and second place, selecting two groups. EBX To first and second place, selecting one only group. TRI To first, second and third place, selecting three groups which will finish in said order. TRB To first, second and third place, selecting one only group. SPX To first, second, third and fourth place, selecting four groups which will finish in said order. SPX To first, second, third and fourth place, selecting one only group.

The buttons of group I are generally shown in FIG. 1 as “I”. As it could be obvious for a skill in the art. The buttons can be arranged in any way.

The functions of the group I above listed, comprises the existing types of pari-mutuel bets. However, in accordance with the present invention, the bets are constructed and placed in a more efficient manner and in less time of execution. There is also a very well known bet called Matrix. Said bet is very expensive, in some cases its cost is higher than the payoff. Said bet is not listed but a skill in the art can also include the function in the portable apparatus of the invention.

Example: the bettor decides to place a trifecta bet; it must then activate the Trifecta bet

[TRI]

b) Competitors Selecting Means

The purpose of the competitors selecting means is to make the selection of competitors (horses, greyhounds, etc.). The buttons of group II are generally shown in FIG. 1 as “II”.

The buttons that can be used to select the competitors of each group conforming the wager are described in the following table. GROUP II BUTTONS FOR SELECTION OF COMPETITORS NAME FUNCTION “1” Selects the competitor marked with number 1 “2” Selects the competitor marked with number 2 “3” Selects the competitor marked with number 3 “4” Selects the competitor marked with number 4 “5” Selects the competitor marked with number 5 “6” Selects the competitor marked with number 6 “7” Selects the competitor marked with number 7 “8” Selects the competitor marked with number 8 “9” Selects the competitor marked with number 9 “10”  Selects the competitor marked with number 10 “11”  Selects the competitor marked with number 11 “12”  Selects the competitor marked with number 12 “13”  Selects the competitor marked with number 13 “14”  Selects the competitor marked with number 14

As it could be obvious for a skill in the art, the number of competitors could be increased, for example, up to 20 competitors.

In order to make the selection of competitors for the group of competitors, the user should press only one button. For example:

1, 4, 6, 7

It means that the bettor wagers on any of competitors 1, 4, 6 or 7 will finish in a particular place, for instances first place.

As it can be noted, the selection of competitors 10, 11, 12, 13 and 14 is done by pressing one only button. This fact leads to savings in time for the tellers, which, in turn, leads to the advantages mentioned before. As could be evident for a skilled in the art, if the number of competitors is increased (more than 15), the corresponding buttons should be added.

c) Bet Execution Means

The object of the bet execution means is to make the second and subsequent selections of competitors to second and third (trifecta), or second, third and fourth (superfecta) place repeating the first selection and modifying it without need to enter again every competitor button for each competitor.

The selection of competitors to second and third, or third and fourth place is done through the execution functions shown in the following table: GROUP III BET CONSTRUCTION BUTTONS NAME FUNCTION WITH Indicates the change of group to continue with the bet. SAME+/− Repeats the competitors selected in the previous group, being able to delete or include other competitors. DELETE Allows deleting the last competitor previously entered, from the group being constructed at that moment. ALL+/− Selects all participating competitors, allowing deleting the unwanted or including competitors. PAIRS Selects all competitors with a pair number. NONS Selects all competitors with a non number.

The buttons of the first column are shown in FIG. 1 as “III”.

To make the second and subsequent selections, the WITH function is used and the selection of competitors to second place is indicated. WITH is a very well function/button.

1, 4, 6, 7[With]→1, 4, 6, 7/

In accordance with the invention's method, the function SAME +/− enters the selection previously entered.

1, 4, 6, 7/[Same +/−]→1, 4, 6, 7/1, 4, 6, 7

The above means that the bettor bets that any of the competitors 1, 4, 6 or 7 will finish in first place AND that any of the competitors 1, 4, 6 or 7 will finish in second place.

Normally, a bettor considers that the competitors, which will arrive in the first position, can be the same that will arrive in the second place; that is why the utilization of the function “SAME +/−” is particularly useful.

Next, the selection to third place is made, repeating the sequence of steps mentioned for the selection to second place.

1, 4, 6, 7/1 ,4, 6, 7[With][Same +/−]

→1, 4, 6, 7, /1, 4, 6, 7/1, 4 6, 7

Function [Same →/−] allows additionally to add or delete competitors to such selection, for example:

1, 4, 6, 7/1, 4, 6, 7/[Same +/−]6, 2

→1, 4, 6, 7, /1, 4, 6, 7/1, 2, 4, 7

In the last selection (1, 4, 6, 7), competitor 6 was deleted and competitor 2 was added.

This expression means that the bettor wagers on any of the competitors 1, 4, 6 or 7 finishing in first place AND that any of the competitors 1, 4, 6 or 7 will finish in second place AND that any of the competitors 1, 2, 4 or 7 will finish in third place.

To enter the aforementioned wager, the operator or the bettor must have pressed 10 buttons, while according to the apparatus of the prior art, the entering of such bet requires pressing 14 buttons. The usage of the method and apparatus of the present invention is translated into time savings to place a bet of approximately 70% with respect to the procedure and apparatus of the prior art. As described below the 60% of the bets are usually entered within the 2 or 3 minutes before the race begins. Not all of the bet are successfully entered and some bets can not be registered. So that, with the invention, more bets can be registered by reducing the bet registration time. Thus an object of the invention is achieved.

For the selection of competitors to fourth place, the selection sequence must be repeated.

The object of the function ALL +/− is to select the group of participants, except the ones indicated by the bettor. Example considering one race of 8 competitors

1, 2/2, 6 [ALL+/−5, 1]→1, 2/2, 6/2, 3, 4, 6, 7, 8

The use of such function allows the bettor to select all competitors and delete or add again competitors selected. Example:

1, 2/2, 6 [ALL +/−5, 1 ,5]→1, 2/2, 6/2, 3, 4, 5, 6, 7, 8

Competitor 5 was removed and added again.

It should be noted that the invention is intended for races including a different number of competitors. Thus, the number of competitors should be entered to the apparatus in order that the apparatus determine the competitors to be called with the use of button ALL +/−.

In accordance with the present invention, the apparatus and method include, additionally, the possibility of correcting mistakes. For example, in the last bet, if the bettor decides that the competitor number 3 shall substitute competitor 2, it must use the function delete [DEL] and add the correct number. For example:

1, 4, 6, 7/1, 4, 6, 7/1, 2, 4, 7 2, 3

→1, 4, 6, 7/1, 4, 6, 7/1, 3, 4, 7

In the apparatus of the prior art it is not possible to delete wrongly entered competitors numbers; in case of a mistake the sequence for constructing a bet has to be repeated entering the correct number.

According to the present invention, it is also possible to delete the last competitor number entered, for example, in the following bet:

1, 4, 6, 7/1, 4, 6, 7/[SAME +/−]3→1, 4, 6, 7/1, 4, 6, 7/1, 3, 4, 6, 7

The last competitor entered (No. 3) is automatically and consecutively placed in the group of competitors, by pressing [DEL] the last competitor entered is removed.

1, 4, 6, 7/1, 4, 6, 7/1, 3, 4, 6, 7[DEL]→1, 4, 6, 7/1, 4, 6, 7/1, 4, 6, 7

In another embodiment of the invention, the method of the present invention is done through machines operated by tellers. The machines of the present invention may advantageously substitute the machines operated by tellers of the prior art.

The incorporation of the functions mentioned before allows placing a wager in a quicker way. As a particularly outstanding effect of the invention, the entering time is reduced in 70% with respect to the registration time in the machines of the previous technique in a bet “without making mistakes”.

The apparatus of the present invention incorporates the method that includes the steps or functions previously described.

d) Derived Bet Means

The derived bet means comprises the buttons shown in FIG. 1 as “IV”. This group refers to the series of buttons used to create derived bet which help a bettor in provide more bets and increase the amount of a wager, for example said buttons perform the different combinations of the groups previously selected (original bet). The movement buttons are particularly useful for the exacta, trifecta and superfecta bets. Each one of the buttons in this group are defined in the following table: GROUP IV BET DERIVED BUTTONS NAME FUNCTION 1 ST. Selects all competitors located in the first group, to move them subsequently with keys buttons “1”, “2” or “3”. ¾ TH. Selects all competitors located in the third or fourth group position or place, according to the type of bet, to move them subsequently with keys buttons “1”, “2” or “3”. O.B. When being pressed, shows the original bet, it means, the initial combination entered. “1” Moves the group of competitors previously selected in a position or place. “2” Moves the group of competitors previously selected in two positions or places. “3” Moves the group of competitors previously selected in three positions or places in superfecta bet. EXA

TRI Permits to switch a construed EXACTA bet into a TRIFECTA bet by repeating the competitors of the EXACTA second place for the TRIFECTA third place. On the contrary, a construed TRIFECTA is switched into an EXACTA by automatically selecting the union of the TRIFECTA's second and third competitors for the EXACTA second position group's competitors. TRI

SUP Permits to turn the registration of bets of the trifecta type into superfecta and vice versa. In the trifecta mode it will include the same competitors of the third group into a fourth group in an automatic manner; on the contrary, in the superfecta mode it will perform automatically the union of the fourth group's competitors with the third position group's competitors. MIX 1 It makes all possible combinations among the groups while maintaining fixed, it means as pivot position, the first position group's competitors. MIX 2 It makes all possible combinations among the groups while maintaining fixed, it means as pivot position, the second position group's competitors. MIX 3 It makes all possible combinations among the groups, while maintaining fixed, it means as pivot position, the third position group's competitors. MIX 4 It makes all possible combinations among the groups, while maintaining fixed, it means as pivot position, the fourth position group's competitors. MIX ALL It makes all possible combinations among the groups, without maintaining fixed any group. SCRATCH Deletes a competitor from the bet, who unexpectedly, for several reasons, will not be participating. NEVER TO From a group of derived bets, removes bets with a competitor included in a group to first, second, third or four place.

Once a bettor has made a selection of wager, it needs to perform some movements to create derived bets to be sure that it will obtain the best benefit. In agreement with the present invention, it is provided the means for the possible variants to be automatically generated, which will result in a benefit for the bettor.

When the bettor is confident that the wager it will make is the one that gives it better possibilities of winning, it will place bets independently of the amount of money.

In accordance with the present invention, some functions to generate derived bets from a handicapped bet are provided. By providing derived bets, a bettor will increase its chances to obtain payoffs if its handicapped combination result winner. So that, with the apparatus and method of the invention, a bettor will be encourage to increase the wager by entering more than one bet. Thus, the method and apparatus of the present invention result beneficial for the racing industry and it is also beneficial for the bettors by the increment of the payoffs. The payoffs become more attractive. With the present invention, a handicapped selection of competitors made by a bettor can be better played.

In accordance with the present invention, function [1^(st)] selects the competitors located in the first group to subsequently move them with the buttons 1, 2 or 3.

This means that the bettor makes a second wager, in which the groups have changed place.

Example. A bettor construct the following bet:

(1) TRIFECTA 1, 2/1, 2, 3/2, 3 (original bet) cost $3.00

The aforementioned bet comprises the following bets: No. Bet Cost 1 1/2/3 $1.00 2 2/1/3 $1.00 3 1/3/2 $1.00 Total $3.00

This means, that the bettor considers that any of competitors 1 or 2 will finish first place, any of competitors, 1, 2 or 3 will finish in the second position and that any of the competitors 2 or 3 will finish in the third place.

Function [1^(st)] selects the competitors of the first group to move them he second, third or fourth (only in the case of superfecta bets) group.

Example:(2) 1, 2/1, 2, 3/2, 3[1^(st)]2

→1, 2, 3/1, 2/2, 3 (cost $3.00)

Since the bettor considers less probable that competitor 3 finishes in first can complete the wager with a simple trifecta bet:

(4) 3, 2, 1 Cost ($1.00)

The bettor will have made the following wagers: No. Bet Cost 1 1, 2/1, 2, 3/2, 3 $3.00 2 1, 2, 3/1, 2/2, 3 $3.00 3 1, 2, 3/2, 3/1, 2, 3 $3.00 4 3/2/1 $1.00 Total $10.00 

It should be noted that according to the prior art, a trifecta box bet offers the possibility of combining the competitors in all positions as follows: No. Bet Cost 1 1/2/3 $1.00 2 1/3/2 $1.00 3 2/1/3 $1.00 4 2/3/1 $1.00 5 3/1/2 $1.00 6 3/2/1 $1.00 Total $6.00

The bettor will have invested more money, $10.00 instead of $6.00 but its possibilities of winning are higher, as shown below: (bets, winning tickets) Order of finish Trifecta Box Trifecta Invention 1/2/3 1 3 1/3/2 1 2 2/1/3 1 2 2/3/1 1 1 3/1/2 1 1 3/2/1 1 1

With the method and apparatus of the invention, the bettor has better chances of winning. In case the bettor's selection is correct, the possibility that the bettor considered most appropriate will give it the best payoffs. However, it will also win if the outcome is the one the bettor considered as the less probable.

Due to benefits provided to the bettor by the method and apparatus of the invention, the bettor will be able to place the bets that best conform to its predictions and, therefore, such bets will be better suited to its expectations and will give it the greater satisfaction. As a consequence of the above, the amounts of the wagers will be increased.

In the superfecta wagers, the bettor bets on the finishing order of four participants. It is worth mentioning that in the superfecta bets, the degree of difficulty is greater since the possibilities of winning are lower; however, such bet offers bigger payoffs.

Function [¾ th] is similar to function [1st], by pressing button [¾ th] the group of competitor selected to Thrid place in a TRIFECTA bet, or the groups of competitors selected to fourth place in a SUPERFECTA bet, can be switched to the position indicated by the bettor fists, second or thrid (SUPERFECTA) to generate a derived bet. Example:

TRIFECTA: 1, 2/1, 2, 3/2 3[¾^(th)]2

→1, 2, 3/2, 3/1, 2, 3 (cost $4.00)

SUPERFECTA: 1, 2/1, 2, 3/1, 2, 3, 5/2 3 5[¾^(th)]3

→1, 2/1, 2, 3/2, 3, 5/1, 2, 3, 5 (cost $ 8.00)

Function [MIX 1] generates automatically for the bettor a mix of the groups of the bet, leaving the first group (group to first place) constant. Thus providing a number of derived bets from the original bet.

Example: A bettor considers the following wager:

2, 3, 4/2, 3, 4, 6/4, 5, 6, 7/All—2, 3, 6, 8, 10, 13, 14 (128 bets)

2, 3, 4/2, 3, 4, 6/4, 5, 6, 7/1, 4, 5, 7, 9.11, 12 [MIX1]

The following combinations maintaining the first group will be obtained,

1.—A/B/C/D (original bet)

2.—A/B/D/C

3.—A/C/B/D

4.—A/C/D/B

5.—A/D/B/C

6.—A/D/C/B

For simplification reasons, groups are represented with letters.

Thus, automatically the apparatus of the invention will generate the following bets: No. Bet Cost Original 2, 3, 4/2, 3, 4, 6/4, 5, 6, 7/1, 4, 5, 7, 9, 11, 12 $160.00 2 2, 3, 4/2, 3, 4, 6/1, 4, 5, 7, 9, 11, 12/4, 5, 6, 7 $160.00 3 2, 3, 4/4, 5, 6, 7/2, 3, 4, 6/1, 4, 5, 7, 9, 11, 12 $160.00 4 2, 3, 4/4, 5, 6, 7/1, 4, 5, 7, 9, 11, 12/2, 3, 4, 6 $160.00 5 2, 3, 4/1, 4, 5, 7, 9, 11, 12/2, 3, 4, 6/4, 5, 6, 7 $160.00 6 2, 3, 4/11, 4, 5, 7, 9, 11, 12/4, 5, 6, 7/2, 3, 4, 6 $160.00 Total $960.00

The cost of the bet is not comparable with the cost to be paid to place a superfecta box bet. Since the bet involves 10 competitors, a superfecta box with ten competitors has: 10×9×8×7=5,040 bets. Assuming a cost of $1.00 per bet, the cost would be $5,040.

The difference in cost between the bet of the invention and a superfecta box of the prior art is very high. Notwithstanding the number of wagers in a superfecta box bet, the bettor can only cash in one of such bets. In agreement with the present invention, the bettor has possibilities of cashing in more than one bet if the combination it chose the winner.

Functions MIX 2, MIX 3 and MIX 4 perform a similar process to function MIX 1. Function MIX 2 makes the combinations to provided derived bets maintaining the group to second place without change. Function MIX 3 makes the combinations to provided derived bets maintaining the group to third place without movement. Function MIX 4 makes the combinations to provided derived bets maintaining the group to fourth place without change.

Likewise, it is even provided the function [MIX ALL] for combinations of all the groups. Even in this case, the amount of the bet is not comparable to the amount of the superfecta box bet. It is worth mentioning that if the combinations of groups repeat, these will not be considered more than once. Example:

1, 2/1, 2, 3/2, 3/3, 4, 5 [MIX ALL]

the following derived bets are automatically generated: No. Bet Cost 1 1, 2/1, 2, 3/2, 3/3, 4, 5 $11.00 2 1, 2/1, 2, 3/3, 4, 5/2, 3 $11.00 3 1, 2/2, 3/1, 2, 3/3, 4, 5 $11.00 4 1, 2/2, 3/3, 4, 5/1, 2, 3 $11.00 5 1, 2/3, 4, 5/1, 2, 3/2, 3 $11.00 6 1, 2/3, 4, 5/2, 3/1, 2, 3 $11.00 7 1, 2, 3/1, 2/2, 3/3, 4, 5 $11.00 8 1, 2, 3/1, 2/3, 4, 5/2, 3 $11.00 9 1, 2, 3/2, 3/1, 2/3, 4, 5 $11.00 10 1, 2, 3/2, 3/3, 4, 5/1, 2 $11.00 11 1, 2, 3/3, 4, 5/2, 3/1, 2 $11.00 12 1, 2, 3/3, 4, 5/1, 2,/2, 3 $11.00 13 2, 3/1, 2/1, 2, 3/3, 4, 5 $11.00 14 2, 3/1, 2/3, 4, 5/1, 2, 3 $11.00 15 2, 3/3, 4, 5/1, 2, 3/1, 2 $11.00 16 2, 3/3, 4, 5/1, 2/1, 2, 3 $11.00 17 2, 3/1, 2, 3/1, 2,/3, 4, 5 $11.00 18 2, 3/1, 2, 3/3, 4, 5/1, 2 $11.00 19 3, 4, 5/1, 2, 3/1, 2/2, 3 $11.00 20 3, 4, 5/2, 3/1, 2, 3/1, 2 $11.00 21 3, 4, 5/2, 3/1, 2, 3/1, 2 $11.00 22 3, 4, 5/2, 3/1, 2/1, 2, 3 $11.00 23 3, 4, 5/1, 2/2, 3/1, 2, 3 $11.00 24 3, 4, 5/1, 2/1, 2, 3/2, 3 $11.00 TOTAL $264.00

On the other hand, the superfecta box bet with five competitors of the prior art has a cost of:

1×2×3×4×5=$120.00 USD

If the bettor wagers on a combination box, it will only have one possibility to win; whilst with the method of the invention, it is possible that the bettor obtain payoffs for three bets in the event that the combination of competitors is winner.

For example, in the event that the competitors arrived in the following order: 1/2/3/4, the bettor would obtain payoff for bets Nos. 1, 3, and 7.

The entering process of a bet like the one that has been shown with the current betting methods would result in a long time and many possibilities of mistake. It has been already said that the time required to place a bet should be minimal, since 80% of the bets entering is done within the last three minutes before the race.

Due to the similarity of the wagers resulting from the use of the MIX functions, the apparatus according to the present invention provides the function ORIGINAL BET [OB]. Its purpose is to recall the bet that had been originally entered.

This function is especially useful for a bettor who gets usually confused with the different possibilities to make a wager.

According to the present invention, there are also provided function NEVER TO, according to which, from a group of derived bets, bets with a competitor included in a group to first, second, third or four place are removed Example:

1, 2/1, 2, 3/2, 3/3, 4, 5 [MIX ALL] [NEVER TO] 5 [1^(ST)]

According to the invention the following derived bets would be generated. No. Bet Cost 1 1, 2/1, 2, 3/2, 3/3, 4, 5 $11.00 2 1, 2/1, 2, 3/3, 4, 5/2, 3 $11.00 3 1, 2/2, 3/1, 2, 3/3, 4, 5 $11.00 4 1, 2/2, 3/3, 4, 5/1, 2, 3 $11.00 5 1, 2/3, 4, 5/1, 2, 3/2, 3 $11.00 6 1, 2/3, 4, 5/2, 3/1, 2, 3 $11.00 7 1, 2, 3/1, 2/2, 3/3, 4, 5 $11.00 8 1, 2, 3/1, 2/3, 4, 5/2, 3 $11.00 9 1, 2, 3/2, 3/1, 2/3, 4, 5 $11.00 10 1, 2, 3/2, 3/3, 4, 5/1, 2 $11.00 11 1, 2, 3/3, 4, 5/2, 3/1, 2 $11.00 12 1, 2, 3/3, 4, 5/1, 2,/2, 3 $11.00 13 2, 3/1, 2/1, 2, 3/3, 4, 5 $11.00 14 2, 3/1, 2/3, 4, 5/1, 2, 3 $11.00 15 2, 3/3, 4, 5/1, 2, 3/1, 2 $11.00 16 2, 3/3, 4, 5/1, 2/1, 2, 3 $11.00 17 2, 3/1, 2, 3/1, 2,/3, 4, 5 $11.00 18 2, 3/1, 2, 3/3, 4, 5/1, 2 $11.00 19 20 21 22 23 24 TOTAL $198.00

Bets 19-24 would be removed since competitor 5 is not selected for first place.

In addition, the apparatus of the present invention provides the possibility of transforming the exacta bet into trifecta bet, and viceversa through the function [EXA⇄TRI], as well as it is able to transform the superfecta bet into trifecta and the trifecta into superfecta through the function [TRI⇄SUP]. By this tool, a bettor is informed of the cost for transforming a handicapped bet. It is common that the bettor does not known the price of a superfecta based on a trifecta bet, by the apparatus and method of the present invention, the information regarding the cost of derived bets is provided to the bettor.

An EXACTA bet is transformed into a TRIFECTA bet by repeating to third place the elements given for second place. Example:

1, 2/1, 2, 3,/[EXA⇄TRI] (exacta bet)

→1, 2/1, 2, 3/1, 2, 3 (trifecta bet)

A trifecta bet is transformed into an exacta bet by incorporating the competitors to second and third place into the second place. Example:

1, 2, 6/1, 2, 6, 14/1, 2, 7, 14 [EXA⇄TRI] (trifecta bet)

→1, 2, 6/1, 2, 6, 7, 14 (Exacta bet)

A TRIFECTA bet is transformed into a SUPERFECTA by repeating to fourth place the competitors given for third place. Example:

1, 2/1, 2, 3,/2, 3, 8 [TRI⇄SUP] (trifecta bet)

→1, 2/1, 2, 3/2, 3, 8/2, 3, 8 (superfecta bet)

A superfecta bet is transformed into a trifecta by incorporating the competitors to third and fourth place into the third place. Example:

3, 9, 14/1, 3, 9, 14/1, 9, 14/1, 2, 7, 9, 10 [TRI⇄SUP] (superfecta bet)

→3, 9, 14/1, 3, 9, 14/1, 2, 7, 9, 10, 14 (trifecta bet)

Function [SCRATCH] is especially useful. It is very common that an announced competitor in retired in the programmed race. That fact is usually informed in some minutes or hours prior to the competition. The process for handicapping a bet, its to say the process for obtaining a selection competitors to construct a bet, takes some time. Thus, bettors frequently are not timely advised that a competitor has been retired and then the bettors must cancel or modify its bet right when the bet is being entered. The bettor has not time enough to handicap a new bet, and then the placement of a premature bet affects the bettor's mood. As a consequence, the bettors usually reduce the amount of the wage that it had planned.

According to the present invention, function [SCRATCH] provides a derived bet from an original bet by automatically deleting the scratched competitors. Example:

A competitor has handicapped and construed the following bet:

1, 2/1, 2, 3,/2, 3, 8, 9 suddenly is informed that competitor 3 is scratched. The Bettor can generate a derived bet by modifying the original bet as follows:

1, 2/1, 2, 3,/2, 3, 8, 9 [SCRATCH]3

→1, 2/1, 2/2, 8, 9

By pressing SCRATCH button plus the competitor number scratched, a derived bet is generated removing the competitor indicated.

In addition, when it is early announce that a competitor is scratched before the race begins, a bettor can scratch such competitor by pressing button [SCRATCH] plus the competitor number. The apparatus of the invention automatically removes the scratched competitor from all the derived bet to be construed. Example:

a) Number of competitors: 6

b) Type of bet: EXACTA

c) [SCRATCH]3

d) 1, 2, 4 [WITH][ALL +/−]5 [ALL +/−]→1, 2, 4/1, 2, 4, 6/1, 2, 4, 5, 6

Competitor 3 is automatically scratched.

Despite the fact that the supefecta bet provides the best payoffs, it is not the preferred bet of bettors. By the apparatus and method of the invention, it is intended to increase the wagers to superfecta. It is also common that bettors are not aware of the cost of a bets. By the apparatus of the present invention, a bettor is informed of the cost of the bet in order that the bettor be able to make bet in line with its funds.

FIGS. 2 a to 2 g show the use of the apparatus of the present invention. FIG. 2 a provides the screen of the apparatus at the beginning of the bet construction process. The bettor should provide the number of competitors, the cost and type of the bet. At this moment it is also possible to provide information about scratched competitors. The bet is construed with the buttons of construction (group III] in the way above shown. FIG. 2 b show a screen of the apparatus of the present invention with the information of an exacta construed bet. With 11 is shown the unitary cost of the bet ($1], 12 shows the number of competitors, 13 is the kind of bet abbreviated, 14 shows the cost of the bet. With 21 is represented the group of competitors to first place and with 22 is represented the group of competitor to second place. By pressing the button [EXA⇄TRI] A trifecta bet is displayed. The trifecta bet is construed as previously described.

FIG. 2 c shows a screen of the apparatus of the present invention with the trifecta bet construed from an Exacta bet. The reference numbers have the same meaning than those of FIG. 2 b. In addition, 23 represents the group of competitors to third place. As it could be noted, the cost of the bet is higher than the cost of the exacta. The screen also shows with 31, a warning information about the cost of the superfecta bet construed with the competitors selected by the used and under the method above mentioned. For the example the cost of the superfecta is the same than the cost of the trifecta bet. By pressing the button [TRI⇄SPF] a superfecta bet is displayed.

FIG. 2 d shows the screen of the apparatus of the present invention with the superfecta bet construed from the previously mentioned trifecta bet. The reference numbers have the same meaning than those of FIGS. 2 b and 2 c, furthermore 24 represents the group of competitors to fourth place of the superfecta bet. The warning information 31 shows the cost of the trifecta bet. It is possible to include or remove a competitor by pressing the competitor number.

FIG. 2 e shows the screen of the apparatus of the present invention when competitor 7 is added to the bet. By including a competitor the cost of the bet is increased, and the warning information of the trifecta bet is also modified. The superfecta bet can be transformed into a trifecta bet by pressing button [TRI⇄SPF].

FIG. 2 f shows the screen of the apparatus of the present invention with the trifecta bet construed from the superfecta bet of FIG. 2 e. The trifecta bet can be transformed into an Exacta bet by pressing button [EXA⇄TRI]. FIG. 2 g shows the screen of the apparatus of the present invention with the Exacta bet derived from the trifecta bet of FIG. 2 f.

As it could be obvious for one skilled in the art, the warning information 31 of a trifecta bet may include both superfecta and exacta derived bet costs. Moreover, the warning information can be related to any derivative bet from the group IV, for example cost of MIX derivative bets.

With the apparatus of the present invention a bettor has a number of facilities for constructing derived bets for the competitors selected (handicapped) by the bettor. Such number of derived bets results in more bets to be registered and consequently, the pool will be increased with beneficial effects for the race industry and bettors.

Group V. Memory Buttons

This group refers to the series of buttons which are useful to select specific functions provided by the method and apparatus of the present invention to handle data stored in the memory, which conform the registration of bets. Each one of the buttons in this group is defined in the following table: GROUP V MEMORY BUTTONS NAME FUNCTION PRINT Sends all the information of the bets registered in the memory to the communications port. M + Saves the cost of the bet placed to have a total global balance of the bets. LOAD Stores in the memory the current bet that the bettor wants to register. ERASE Erases from the memory a previously stored and selected bet. (NEXT)

Shows on the screen the immediate next bet that is stored in the memory. (PREV)

Shows on the screen the immediate previous that is stored in the memory.

The buttons of group V are generally shown in FIG. 1 as “V”, where the group of buttons detailed in the former table is described.

e) Secondary Option Means

The method and apparatus according to the invention optionally comprise secondary option means for performing secondary option, for example storing bets in the memory, and making changes in the last moment (priori to registering the bet). This group of functions refers to the series of buttons that do not belong to a specific group, but which have specific functions. Each one of the buttons in this group is defined in the following table: GROUP VI SECONDARY FUNCTIONS BUTTONS NAME FUNCTION CLEAR Clears all the information in the memory and on the screen, except the amount and type of bet, as well as the number of competitors. NEXT BET Clears all the information in the memory and on the screen.

The buttons of group VI are generally shown in FIG. 1 as “VI”, where the group of buttons detailed in the former table is described.

The electronic design comprises an energy source of between 3 and 12 volts, preferably 6 V. This energy allows the supply to each and every one of the electronic components that, necessarily, require polarization, as well as provides useful flow of energy for the codification of the keyboard.

Immediately after the power supply there is a switch connected, which has the particular function of controlling the turning on and off of the apparatus. (FIGS. 7-56).

55 buttons, distributed as shown in FIG. 1, form the keyboard. An open switch and two terminals, to allow for the continuity between terminals when they are pressed, compose the buttons. Each one of the buttons is connected in one of its terminals to the feeding line coming from the on and off switch. On the other side, the second terminal has, in turn, a pair of diodes connected in direct, which allow for the current to flow, without the voltage dropping below 4 volts.

Everyone of the two diodes of each button is respectively connected to a common point, so that it codifies according to the line where the physical space of each button is located. It is so that, according to the distribution seen in FIG. 1, there are ten lines. In the same manner, the other respective diode of each button serves to codify the column; according to FIG. 1, there are six columns. One of the principal functions of the diodes is to have independent the common points of the columns with respect to the lines or vice versa, because the diodes avoid the flow of current when they are inverted.

According to this form of connection, the keyboard codifies in a matrix type; it means, the button being pressed generates a flow of current in the column as well as in the corresponding line.

The ten common points corresponding to lines, excepting one, are connected to the entries of the logical circuit of the type 74-147, whose function is to codify the line number to a binary form in four bits, the line that is not connected to the logical circuit codifies only the column, having the value of 1111 in bits for the line due to characteristics of the logical circuit; in similar way, the six common points corresponding to columns are connected to another identical logical circuit to codify the number of columns in four bits. It is to be mentioned that, according to the characteristics of the keyboard, it is possible to add or eliminate buttons, having a maximum of 256. The union of the 4 bits of column and the four bits of line are connected in an entry port of the processor of the family 8051.

It is possible to design the keyboard in a matrix manner, without requiring the diodes and the 74-147 logical circuits, using a design like the computer keyboard and a logical circuit more advanced, which is known as keyboards codifying, to obtain in such way the same result.

The controller has an inner memory, 4 ports and the necessary and common connections for its proper operation. The common connections are:

The oscillatory circuit, which is composed of a crystal and two capacitors, whose values are directly related.

The re-initialization circuit, which is composed of a capacitor, one resistor and a pushbutton, whose values are directly related.

Once one of the ports has been used as inlet, two of the rest will be used as outlet ports to the crystal liquid display or LCD, whose way of connecting will depend on the type of screen used.

Finally, the last port is set in a manner that works as bi-directional serial port for data exchange, reason why it is used a common use logical circuit for such setting, of the type known as Max232, for its proper operation, in turn, there are 3 capacitors connected, whose values are directly related. Within the peripherals that are possible to connect to this port, there is a printer, an adapter for infrared rays, for parallel port, for USB or any other type of known port in the computer media.

This is especially useful for the bettor to place its bet officially without requiring a teller.

It is to be mentioned that the micro-controller has an engraved program to decipher the information codified by the keyboard and to send the results through the LCD or serial port.

With the purpose of giving a clearer description of the invention, it is being attached the list of a computer program that performs the before mentioned steps.

The invention being thus described, it will be obvious that the same may be varied in many ways. Such variations are not to be regarded as a departure from the spirit and scope of the invention, and all such modifications as would be obvious to one skilled in the art are to be included within the scope of the following claims.

As it could be obvious for a skilled in the art, the apparatus could comprise other well known functions. For example, the apparatus could include a camera, a game program, a mp3 player, a simple calculator. In addition, the method of the invention can be conducted in devices such as a palm, a mobile telephone or an off-track device for betting. 

1. An apparatus to make and place bets, including a keyboard connected to a computing means via electronic circuit means; wherein the keyboard comprises: a plurality of buttons for selecting a type of bet, wherein each button represents a different type of bet; a plurality of buttons for selecting competitors; a plurality of buttons for selecting an initial combination of groups of competitors to finish in particular places for creating an original bet; and a plurality of buttons for creating derivative bets, wherein the computing means is adapted to compute, retrieve, deliver and display data and results in accordance of the buttons selected such that said buttons for creating derivative bets modifying the initial combination of groups of competitors to create derivative combinations of said original bet.
 2. The apparatus of claim 1, wherein the buttons for selecting an initial combination of groups of competitors to finish in particular places include a button for selecting the same group of competitors as those chosen to finish in a preceding place to also finish in a place other than such preceding place.
 3. The apparatus of claim 2, wherein said button additionally provides the ability to add or remove competitors from the group by pressing the buttons of the competitors desired.
 4. The apparatus of claim 1, wherein the buttons for selecting competitors to finish in particular places include a button for selecting at once all the competitors in a race.
 5. The apparatus of claim 4, wherein said button additionally provides the ability to remove or add competitors from the group by pressing the buttons of the competitors desired.
 6. The apparatus of claim 1, wherein the buttons for selecting an initial combination of groups of competitors to finish in particular places include a button for selecting at once all pairs or none competitors.
 7. The apparatus of claim 1, wherein the buttons for selecting an initial combination of groups of competitors to finish in particular places include a button for deleting the last competitor entered from a group of competitors being selected to finish in a particular place.
 8. The apparatus of claim 1, wherein the buttons for modifying the initial combination to create derivative bets include a button for switching from a group of competitors to finish in a particular place, to a group of competitors to finish in a place other than such preceding place.
 9. The apparatus of claim 1, wherein the buttons for modifying the initial combination to create derivative bets include a button selected from the group consisting of: a button for generating multiple bets by automatically generating all possible combinations of the groups of competitors previously selected to finish in a position other than first, while maintaining fixed for first place in each combination, the group of competitors previously chosen to finish in first place; a button for generating multiple bets by automatically generating all possible combinations of the groups of competitors previously selected to finish in a position other than second, while maintaining fixed for second place in each combination the group of competitors previously chosen to finish in second place; a button for generating multiple bets by automatically generating all possible combinations of the groups of competitors previously selected to finish in a position other than third, while maintaining fixed for third place in each combination the group of competitors previously chosen to finish in third place; a button for generating multiple bets by automatically generating all possible combinations of the groups of competitors previously selected to finish in a position other than fourth, while maintaining fixed for fourth place in each combination the group of competitors previously chosen to finish in fourth place; and a button for generating multiple bets by automatically generating all possible combinations of the groups of competitors previously selected to finish in the different places.
 10. The apparatus of claim 1, further comprising a button for removing a competitor selected from any derivative bet to finish in an place selected.
 11. The apparatus of claim 1, further comprising a button for recalling the original bet.
 12. The apparatus of claim 1, wherein the buttons for modifying the initial combination to create derivative bets include a button for transforming an exacta bet into a trifecta bet and vice-versa, wherein an exacta bet is transformed into a trifecta bet by repeating for third place finishes the same group of competitors previously selected to finish in second place, and wherein a trifecta bet is transformed into an exacta bet by incorporating into the group of competitors previously chosen to finish in second place those competitors chosen to finish in third place that are missing from the group chosen to finish in second.
 13. The apparatus of claim 1, wherein the buttons for modifying the initial combination to create derivative bets include a button for automatically deleting from all betting combinations entered so far a competitor whose participation in the race has been cancelled.
 14. The apparatus of claim 1, further comprising a display for showing the cost of the bet entered for the user and provide a warning of the cost of a derived bet.
 15. The apparatus of claim 14, wherein the derived bet is a Trifecta when the bet entered is an Exacta; or a Trifecta and/or Superfecta when the bet entered is a Trifecta; or a Trifecta when the bet entered is a Superfecta.
 16. The apparatus of claim 1, further comprising a communication peripheral.
 17. The apparatus of claim 16, further comprising a button that sends betting information entered to the communications peripheral.
 18. The apparatus of claim 16, wherein the communications peripheral communicates with a locality for the registration of bets.
 19. The apparatus of claim 1, wherein the apparatus is portable.
 20. A method to execute bets using an apparatus for making bets, said apparatus including a plurality of buttons for selecting a type of original bet, wherein each button represents a different type of bet; a plurality of buttons for selecting competitors, wherein each button represents a different competitor; a plurality of buttons for selecting an initial combination of groups of competitors to finish in particular places for the original bet; and a plurality of buttons for creating derivative bets, said buttons for creating derivative bets modifying the initial combination of groups of competitors to create derivative combinations of said original bet, said method comprising: selecting a type of original bet with the apparatus; and selecting an initial combination of groups of competitors to finish in particular places with the apparatus.
 21. The method of claim 20, wherein selecting an initial combination of groups of competitors to finish in particular places comprises selecting, through use of the apparatus, the same group of competitors as those chosen to finish in a preceding place to also finish in a place other than such preceding place.
 22. The method of claim 21, further comprising adding or removing competitors from the group by pressing the buttons of the competitors desired.
 23. The method of claim 21, wherein selecting an initial combination of groups of competitors to finish in particular places comprises selecting at once, through use of the apparatus, all the competitors in a race.
 24. The method of claim 23, further comprising adding or removing competitors from the group by pressing the buttons of the competitors desired.
 25. The method of claim 21, wherein selecting an initial combination of groups of competitors to finish in particular places comprises selecting at once, through use of the apparatus, pairs or none competitors.
 26. The method of claim 21, wherein selecting an initial combination of groups of competitors to finish in particular places comprises deleting, through use of the apparatus, the last competitor entered from the group of competitors being selected to finish in a particular place.
 27. The method of claim 21, wherein selecting an initial combination of groups of competitors to finish in particular places comprises selecting, thorough use of the apparatus, to switch from choosing a group of competitors to finish in a particular place, to choose a group of competitors to finish in a subsequent place.
 28. The method of claim 21, further comprising generating, through use of the apparatus, multiple bets from the group consisting of: of all possible combinations of groups of competitors previously selected to finish in a position other than first, while maintaining fixed for first place selection in each combination the group of competitors previously chosen to finish in first place; of all possible combinations of groups of competitors previously selected to finish in a position other than second, while maintaining fixed for second place selection in each combination the group of competitors previously chosen to finish in second place; of all possible combinations of groups of competitors previously selected to finish in a position other than third, while maintaining fixed for third place selection in each combination the group of competitors previously chosen to finish in third place; of all possible combinations of groups of competitors previously selected to finish in a position other than fourth, while maintaining fixed for fourth place selection in each combination the group of competitors previously chosen to finish in fourth place; and all possible combinations of groups of competitors previously selected to finish in the different places.
 29. The method of claim 21, further comprising automatically deleting from all derivative bets, through use of the apparatus, at last one competitor selected from any derivative bet to finish in a place selected.
 30. The method of claim 21, further comprising transforming, through use of the apparatus, an exacta bet into a trifecta bet and/or vice-versa, wherein a exacta bet is transformed into a trifecta bet by repeating for third place finishes the same group of competitors previously selected to finish in second place, and wherein a trifecta bet is transformed into an exacta bet by incorporating into the group of competitors previously chosen to finish in second place those competitors chosen to finish in third place that are missing from the group chosen to finish in second.
 31. The method of claim 21, further comprising automatically deleting from all betting combinations entered so far, through use of the apparatus, a competitor whose participation in the race has been cancelled.
 32. The method of claim 21, wherein the type of bet selected comprises an exacta, trifecta, or superfecta bet. 